Highlights:
- Binance delists BTC/TUSD and TUSD/USDT margin pairs effective July 24, 2024
- Portfolio Margin users to see TUSD balances automatically converted to USDT
- Binance monitors high-risk altcoins to maintain trading stability
Binance, the leading global cryptocurrency exchange, has decided to delist several Bitcoin (BTC) and Tether (USDT) margin trading pairs involving TrueUSD (TUSD). This change is scheduled for implementation on July 24, 2024, at 06:00 UTC and will affect both Cross and Isolated Margin trading modalities.
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Key Details on Binance’s Upcoming Pair Delisting
BTC/TUSD and TUSD/USDT are the specific trading pairs to be removed from the platform. The process begins with suspending isolated margin borrowing for these pairs on July 12, 2024. Subsequently, on the delisting day, Binance will close all active positions, settle accounts automatically, and cancel any pending orders related to these pairs.
Binance urges its users to prepare for these changes by closing their positions or transferring their assets from Margin Wallets to Spot Wallets. This precaution is advised to help traders avoid potential financial losses when the pairs are officially removed from the platform. Furthermore, for Portfolio Margin users, the exchange noted that all TUSD balances in Cross Margin Wallets will be automatically converted to USDT on the same day, with the conversion process potentially extending beyond 24 hours.
Binance Refines Portfolio with Delistings and New Additions
This move is part of Binance’s broader strategy to optimize its trading offerings. The exchange is not only delisting specific pairs. Still, it is also removing entire spot trading pairs for other cryptocurrencies like BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS) by July 22, 2024. This decision has injected a degree of uncertainty within the cryptocurrency trading community.
#Binance will delist $OMG, $WAVES, $WNXM, and $XEM on June 17, 2024.
More details here ⤵️https://t.co/u5r7gtOjMN
— Binance (@binance) June 3, 2024
Additionally, Binance is updating its offerings by adding new cryptocurrencies and engaging in token mergers., such as the recent ASI token merger involving Fetch AI (FET), OCEAN, and AGIX. These actions demonstrate Binance’s active role in shaping the trading landscape and responding to market trends.
The delisting of major margin trading pairs and the ongoing adjustments in supported cryptocurrencies underline the crypto market’s evolving nature. Traders should stay informed and adapt to changes. Binance adjusts its offerings based on regulations and market trends.
Binance Implements Monitoring for Volatile Altcoins
Due to their high volatility, Binance has initiated monitoring on eleven altcoins, including Balancer (BAL), Cortex (CTXC), and Sun (SUN). The exchange aims to maintain a stable trading environment through rigorous scrutiny and regular evaluations of these cryptocurrencies.
Just In: Binance announced that it has added Monitoring tags to the following tokens, warning that these tokens may be delisted: Balancer (BAL), Cortex (CTXC), PowerPool (CVP), Convex Finance (CVX), Dock (DOCK), Kava Lend (HARD), IRISnet (IRIS), MovieBloc (MBL), Polkastarte…
— Wu Blockchain (@WuBlockchain) July 1, 2024
These cryptocurrencies are functional but have risks like market volatility, legal challenges, and technical issues. User adoption is present but cautious. To manage these risks effectively, Binance evaluates factors like the development team’s engagement, trading volume, liquidity, and network security.
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